Chapter 6 - 1.4 - Types of Capital Allowance Flashcards by Verity Russell | Brainscape

Q

What are the four types of capital allowance you need to know?

A

Writing down allowances (WDA)
Annual investment allowances (AIA)
First year allowance (FYA)
Balancing adjustments

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Q

Writing down allowances (WDA)

A

Available annually

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Q

Annual investment allowances (AIA)

A

Available on certain assets in the period of acquisition

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Q

First year allowance (FYA)

A

Available on certain assets in the period of acquisition

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Q

Balancing adjustments

A

A balancing allowance or charge may arise in the period of disposal

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